Chicago Equity Partners LLC acquired a new stake in Coach, Inc. (NYSE:COH) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,185 shares of the luxury accessories retailer’s stock, valued at approximately $482,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Dupont Capital Management Corp acquired a new stake in Coach in the 2nd quarter valued at about $118,000. Winslow Evans & Crocker Inc. increased its position in Coach by 18.1% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,616 shares of the luxury accessories retailer’s stock valued at $124,000 after acquiring an additional 400 shares in the last quarter. NINE MASTS CAPITAL Ltd acquired a new stake in Coach in the 1st quarter valued at about $153,000. NEXT Financial Group Inc increased its position in Coach by 5.0% in the 2nd quarter. NEXT Financial Group Inc now owns 4,214 shares of the luxury accessories retailer’s stock valued at $199,000 after acquiring an additional 200 shares in the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in Coach in the 1st quarter valued at about $204,000. Hedge funds and other institutional investors own 86.35% of the company’s stock.
Shares of Coach, Inc. (NYSE:COH) opened at 41.28 on Wednesday. The company has a market cap of $11.67 billion, a price-to-earnings ratio of 19.75 and a beta of 0.44. The stock has a 50 day moving average of $44.10 and a 200-day moving average of $43.41. Coach, Inc. has a 12 month low of $34.07 and a 12 month high of $48.85.
Coach (NYSE:COH) last announced its quarterly earnings data on Tuesday, August 15th. The luxury accessories retailer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. Coach had a net margin of 13.17% and a return on equity of 21.31%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.45 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts forecast that Coach, Inc. will post $2.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Thursday, September 7th. Coach’s payout ratio is currently 64.59%.
COH has been the subject of several research reports. Vetr cut shares of Coach from a “hold” rating to a “sell” rating and set a $45.98 price objective for the company. in a research report on Monday, August 7th. UBS AG lowered their price target on shares of Coach from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 17th. Jefferies Group LLC set a $53.00 price target on shares of Coach and gave the stock a “buy” rating in a research report on Friday, May 19th. Canaccord Genuity assumed coverage on shares of Coach in a research report on Friday, June 30th. They set a “buy” rating and a $59.00 price target for the company. Finally, MKM Partners assumed coverage on shares of Coach in a research report on Monday, July 10th. They set a “buy” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $48.03.
In related news, CAO Todd Kahn sold 4,586 shares of Coach stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $40.85, for a total value of $187,338.10. Following the completion of the sale, the chief accounting officer now owns 72,412 shares of the company’s stock, valued at approximately $2,958,030.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.81% of the company’s stock.
Coach, Inc (Coach) is a design house of luxury accessories and lifestyle collections. The Company’s product offering uses a range of leathers, fabrics and materials. Its segments include North America, International and Stuart Weitzman. The North America segment includes sales of Coach brand products to North American customers through Coach-operated stores (including the Internet) and sales to North American wholesale customers.
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